Daido Steel Group’s trading house, Daido Kogyo established a subsidiary in India on July 1. This is Daido Kogyo’s twelfth overseas business sites in total eleven countries. The Indian subsidiary, Daido Kogyo India (DKI), sells special steel products, secondary special steel products, formed and fabricated materials as well as trading raw materials such as ferroalloy and ferrous scrap. Daido Kogyo eyes diversity of raw material procurement in other than China. DKI targets annual revenue at 5 billion yen until 2015.
DKI is located 15 kilometers south from Indira Gandhi International Airport and 30 kilometers south from New Delhi. The capital fund is 45 million rupees (approximately 90 million yen), of which 99% controlled by Daido Kogyo and 1% by Daido Europe. DKI started operation with 2 Japanese staffs and 3 local staffs. In India, Daido Steel concluded a technical assistance agreement with a local special steel maker, Sunflag Iron & Steel in November 2010. TAA covers capital investment and product inspection. Daido Steel Group has accelerated the business in India.Japan Steel Scrap Composite Prices (Sangyo Press)
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